EUR/USD: extends upside

I missed the pullback in EURUSD from the 1.4240 top as I was reluctant to enter long for two reasons: First, the price is near the channel resistance of the current 4h uptrend. Secondly, the pair has moved too far out from the Keltner Channel which is my comfort zone to execute a trend following entry.

eurusd 20110322 15m

eurusd 20110322 4h

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This entry was posted on Tuesday, March 22nd, 2011 at 11:02 am and tagged with breakout, EURUSD, trend and posted in trading note. You can follow any responses to this entry through the RSS 2.0 feed.